Tax Considerations In Restructuring And Company Insolvency In Canadian Business
Companies facing financial difficulties often have to make tough decisions about what actions to take to save their business. These decisions can have a significant impact not only on the business itself but also on the taxes involved. If you are a Canadian business facing company insolvency or restructuring and want to learn more about […]
Exploring The Tax Implications Of Offshore Financing In Canada
According to a 2008 paper issued by a Department of Finance advisory panel on Canada’s System of International Taxation, Canada has seen a “sharp increase” in outbound and inbound cross-border investments since the early nineties. This trend has continued over the years, with Canada joining its peers in an increasingly global marketplace. The global marketplace […]
Taxation Of Royalties And Licensing In Canadian Law
According to the Canada Revenue Agency (CRA), royalties are payments received in compensation for allowing someone to utilize a patent, trademark, copyright, secret process, or formula. They can also include investment or business income, as well as payments linked to television or film. The source and type of a royalty can directly impact the level […]
The Role Of Artificial Intelligence In Canadian Tax Compliance
The Government of Canada freely admits that it is already using artificial intelligence (AI) for Canadian tax compliance purposes, and representatives from the Canada Revenue Agency (CRA) have been exploring this opportunity since at least 2018. On the other side of the bookkeeping world, companies and accountants in Canada are also employing AI-based strategies for […]
Wealth Transfer Tax Planning Strategies for Canadian Businesses
Canadian business owners who have achieved financial success often develop comprehensive estate plans to transfer their wealth, including their business and its associated assets. Tax matters should be an integral component of such plans. With the right tax planning strategies, Canadians can minimize their business tax liabilities and maximize the assets they are able to […]
Employee Stock Options And Canadian Tax Implications
Many employers utilize stock options as a method of rewarding or attracting employees. Because they enable staff members to benefit from an organization’s future growth, they can be a useful incentive that helps to align an employee’s goals with those of a business, as both parties profit when the price of the stock increases. Moreover, […]
Canadian Pension Plans: Tax Considerations For Employers
For many workers, retirement is an exciting prospect. They look forward to leaving the workforce and begin to enjoy simply living their lives. Supported by a variety of income sources, including Old Age Security (OAS) and the Canada Pension Plan (CPP), retired Canadians may choose to enjoy quiet days in their home or to go […]
Fringe Benefit Tax Rules For Canadian Employers
The sheer complexity of Canadian tax laws can make compliance a challenge. Canadian employers, therefore, must carefully navigate fringe benefit tax rules to ensure full compliance with those tax laws. With help, you can chart a course through even the most complex tax issues and diligently leverage tax laws to your advantage while improving your […]
The Ultimate Guide To Maximizing Canadian Business Tax Write-offs And Boosting Your Charitable Donations
Running a successful business in Canada is about strategic operations and savvy financial planning. Understanding the Canada Revenue Agency’s available tax write-offs and optimizing charitable donations can significantly impact a company’s bottom line. Canadian business owners should know the strategies and best practices to maximize business tax deductions and bolster charitable contributions within the Canadian […]
An Examination of Tax Shelters in Canadian Corporate Law
As defined in Canada’s Income Tax Act, a tax shelter is an arrangement whereby an individual or entity invests funds or gifts a donation under the representation that they will receive tax deductions, credits, or other tax benefits whose total amount of value at least equal that of their expenditure. As tax shelter arrangements by […]